Greengro Technologies Inc (OTCMKTS:GRNH) shares rose 8.09% on Wednesday to $0.0735 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.02 to $0.16. The company has a market cap of $26.56 million at 336.44 million shares outstanding.
Greengro Technologies Inc is a company that provides green technologies focusing on indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. In particular, it provides manufacturing and sale of vertical cultivation systems and facilities design.
Greengro Technologies Inc has several operating divisions namely GRNH, Vertical Hydrogarden, Inc. and BP Gardens. GRNH provides design and consulting services to all agricultural divisions, including legalized Cannabis operations, and provides knowledge on designs and systems to maximize production for every crop cycle. VHI is a supplier of green agriculture products, including hydroponics, advanced nutrients, and vertical cultivation technology systems design and sales, in addition to offering leasing and finance solutions, operational and maintenance consulting, and planning services. Lastly, BP Gardens uses methods to protect crops from detrimental environmental elements while generating market ready leafy green produce year-round in any climate.
The company announced the availability of highly technologically fortified industrial-grade glass greenhouses designed to equip high-capacity growers with a state-of-the-art facilities designed to support commercial level production of both agricultural produce and cannabis. This allows them to establish their niche in the booming cannabis market, which is poised to reach $20 billion by 2020 after the November vote legalized the use of medical or recreational marijuana in several states.
We are very pleased to be bringing this immense, advanced greenhouse offering to the marketplace”, said James Haas, CEO of Greengro Technologies Inc. “Our continuing discovery of technologies suited for lucrative new fields of trade will broaden our footprint in both the consumer and commercial markets alike, strengthening our ability to further capitalize on our unique operating advantages, particularly as local demand escalates with the opening of the new recreational cannabis market while other areas throughout the country embrace medical marijuana provisions.”
The robust high-capacity greenhouses measure 19 ft. in height, 30 ft. in width and 170 ft. in length and provide 5,037 square feet of technologically advanced climate controlled cultivation and harvesting space. This is built with nearly two-inch tempered glass and erected with a customized aluminum frame and the setup consists of a Cooling Pad and Fan System designed to regulate temperatures through an efficient circulation system. As such, it enables a highly effective temperature control for a hydroponics system, something that Greengro Technologies Inc could continue to capitalize on as more companies join the cannabis market and seek to have their own greenhouses as well.
Prior to this, Greengro Technologies Inc launched a line of CBD nutraceutical products for early 2017. Under its subsidiary CBD Ventures, it will provide turnkey cannabis extraction labs as well.
“We have been diligently working within the State’s parameters for medical marijuana and this monumental industry advancement allows us to fully exhaust our efforts. We are excited to bring our state-of-the-art nutraceutical product lines to market and utilize the whole plant in uncharted territories,” added Greengro Technologies Inc President Aaron Thomas.
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